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South Korea's crude imports surge y-o-y to highest since 2001

Oil

South Korea's imports of crude oil in May increased by 16.7% m-o-m and 29.8% y-o-y to average 3.04M b/d, Reuters reports, citing preliminary data from the country's Ministry of Trade, Industry and Energy. Final data will be released later in June and if the figure is similar to preliminary data it will represent the highest import volume since February 2001.